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UCIT are proud to announce their first loan approvals for the year; a sum of over £100,000 between Lagan Legacy Ltd, for a highly innovative and creative new tourism initiative, and Newbuildings Community and Environmental Association Ltd (NCEA), for a new workspace development.
Lagan Legacy Ltd was established as a Company Limited by Guarantee in October 2002 to help preserve all aspects of Belfast’s maritime heritage.
To support this vision, UCIT has approved loan facilities of £50,000 to contribute towards Lagan Legacy’s MV Confiance Project; the refurbishment of a Dutch barge to provide accommodation for the maritime heritage collection. The barge will house an interpretative area, exhibition gallery, conference area, a café/restaurant and will be permanently moored at Lanyon Quay.
UCIT’s CEO, Brian Howe, is delighted with the new partnership; “The MV Confiance project will break new ground in the development of tourism in Belfast, while preserving a vital part of NI heritage and providing vital jobs to the economy.”
NCEA was established in 1995 to manage a community centre project in Newbuildings, which was completed in 2001. In order to establish a more sustainable future for the company, the group embarked on a new workspace project in the hope of generating profits to enable the continuous delivery of its work in the community.
£67,000 of financial assistance has been approved by UCIT to cover the costs associated with the development of the Epworth Business Centre; a mixed office and retail unit facility in the Newbuildings area. The project involves the purchase of a centrally located site in the village and the development of approximately 4,000 square feet of office and retail accommodation. At present, two of the four units have already been let and it is estimated that the project will provide up to 12 new jobs for the area.
Commenting on the project, Brian Howe stated, “UCIT are pleased with the new model of sustainability put in place by NCEA. The project will enhance the facilities of the local area and will benefit the community a great deal.” |